South Korean electric vehicle (EV) battery manufacturer SK On said it had signed a battery cell supply contract with Polestar for its next flagship model.
SK On is part of energy and chemicals conglomerate SK Group which invested US$60m in Polestar in 2021 through its New Mobility Fund. The two companies also signed a memorandum of understanding (MOU) to strengthen EV collaboration.
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Until now, Polestar has been using LG Energy Solution and Contemporary Amperex Technology cells.
This is the first commercial battery cell supply contract between the two companies. Contract value was not disclosed.
SK On said it would supply ultra long (56cm) nickel cobalt manganese (NCM) batteries for the 5 four door GT model due to go into production in 2025.
The model would be based on the automaker’s bonded aluminium platform and have maximum power output of 650kW (884hp) and 900Nm of torque.
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By GlobalDataSK On said NCM batteries were increasingly favoured for premium EVs as they are more expensive but have a higher energy density than other batteries including lithium iron phosphate (LFP) cells.
